ANHEUSER-BUSCH INBEV-SPN ADR (BUD) Fundamental Analysis & Valuation

NYSE:BUD • US03524A1088

Current stock price

72.39 USD
+0.45 (+0.63%)
At close:
72.39 USD
0 (0%)
After Hours:

This BUD fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. BUD Profitability Analysis

1.1 Basic Checks

  • BUD had positive earnings in the past year.
  • BUD had a positive operating cash flow in the past year.
  • In the past 5 years BUD has always been profitable.
  • Each year in the past 5 years BUD had a positive operating cash flow.
BUD Yearly Net Income VS EBIT VS OCF VS FCFBUD Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

1.2 Ratios

  • BUD has a Return On Assets (3.12%) which is in line with its industry peers.
  • BUD has a Return On Equity of 7.83%. This is comparable to the rest of the industry: BUD outperforms 45.45% of its industry peers.
  • BUD's Return On Invested Capital of 6.24% is in line compared to the rest of the industry. BUD outperforms 42.42% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for BUD is significantly below the industry average of 11.84%.
  • The 3 year average ROIC (6.13%) for BUD is below the current ROIC(6.24%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.12%
ROE 7.83%
ROIC 6.24%
ROA(3y)2.8%
ROA(5y)2.67%
ROE(3y)7.28%
ROE(5y)7.36%
ROIC(3y)6.13%
ROIC(5y)5.97%
BUD Yearly ROA, ROE, ROICBUD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • The Profit Margin of BUD (11.53%) is better than 66.67% of its industry peers.
  • BUD's Profit Margin has improved in the last couple of years.
  • The Operating Margin of BUD (26.73%) is better than 84.85% of its industry peers.
  • In the last couple of years the Operating Margin of BUD has remained more or less at the same level.
  • With a decent Gross Margin value of 55.93%, BUD is doing good in the industry, outperforming 75.76% of the companies in the same industry.
  • In the last couple of years the Gross Margin of BUD has remained more or less at the same level.
Industry RankSector Rank
OM 26.73%
PM (TTM) 11.53%
GM 55.93%
OM growth 3Y1.96%
OM growth 5Y0.34%
PM growth 3Y3.72%
PM growth 5Y30.92%
GM growth 3Y0.88%
GM growth 5Y-0.76%
BUD Yearly Profit, Operating, Gross MarginsBUD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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3

2. BUD Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BUD is destroying value.
  • The number of shares outstanding for BUD has been reduced compared to 1 year ago.
  • Compared to 5 years ago, BUD has less shares outstanding
  • Compared to 1 year ago, BUD has an improved debt to assets ratio.
BUD Yearly Shares OutstandingBUD Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
BUD Yearly Total Debt VS Total AssetsBUD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B 200B 250B

2.2 Solvency

  • Based on the Altman-Z score of 1.77, we must say that BUD is in the distress zone and has some risk of bankruptcy.
  • BUD's Altman-Z score of 1.77 is in line compared to the rest of the industry. BUD outperforms 45.45% of its industry peers.
  • BUD has a debt to FCF ratio of 6.50. This is a slightly negative value and a sign of low solvency as BUD would need 6.50 years to pay back of all of its debts.
  • BUD has a Debt to FCF ratio of 6.50. This is comparable to the rest of the industry: BUD outperforms 57.58% of its industry peers.
  • BUD has a Debt/Equity ratio of 0.83. This is a neutral value indicating BUD is somewhat dependend on debt financing.
  • BUD's Debt to Equity ratio of 0.83 is in line compared to the rest of the industry. BUD outperforms 42.42% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Altman-Z 1.77
ROIC/WACC0.97
WACC6.41%
BUD Yearly LT Debt VS Equity VS FCFBUD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.3 Liquidity

  • BUD has a Current Ratio of 0.72. This is a bad value and indicates that BUD is not financially healthy enough and could expect problems in meeting its short term obligations.
  • BUD has a worse Current ratio (0.72) than 78.79% of its industry peers.
  • BUD has a Quick Ratio of 0.72. This is a bad value and indicates that BUD is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.57, BUD is doing worse than 66.67% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.57
BUD Yearly Current Assets VS Current LiabilitesBUD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

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4

3. BUD Growth Analysis

3.1 Past

  • BUD shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.27%.
  • Measured over the past years, BUD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.20% on average per year.
  • Looking at the last year, BUD shows a decrease in Revenue. The Revenue has decreased by -0.75% in the last year.
  • The Revenue has been growing slightly by 4.82% on average over the past years.
EPS 1Y (TTM)6.27%
EPS 3Y5.8%
EPS 5Y14.2%
EPS Q2Q%7.95%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y0.88%
Revenue growth 5Y4.82%
Sales Q2Q%4.81%

3.2 Future

  • The Earnings Per Share is expected to grow by 13.29% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 4.90% on average over the next years.
EPS Next Y16.01%
EPS Next 2Y14.18%
EPS Next 3Y13.09%
EPS Next 5Y13.29%
Revenue Next Year7.07%
Revenue Next 2Y5.42%
Revenue Next 3Y4.84%
Revenue Next 5Y4.9%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
BUD Yearly Revenue VS EstimatesBUD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 20B 40B 60B
BUD Yearly EPS VS EstimatesBUD Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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6

4. BUD Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 17.83, which indicates a rather expensive current valuation of BUD.
  • Based on the Price/Earnings ratio, BUD is valued a bit cheaper than the industry average as 60.61% of the companies are valued more expensively.
  • BUD is valuated rather cheaply when we compare the Price/Earnings ratio to 25.70, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 15.38, BUD is valued correctly.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of BUD indicates a somewhat cheap valuation: BUD is cheaper than 63.64% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.84, BUD is valued a bit cheaper.
Industry RankSector Rank
PE 17.83
Fwd PE 15.38
BUD Price Earnings VS Forward Price EarningsBUD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BUD indicates a rather cheap valuation: BUD is cheaper than 81.82% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, BUD is valued cheaper than 87.88% of the companies in the same industry.
Industry RankSector Rank
P/FCF 12.53
EV/EBITDA 9.04
BUD Per share dataBUD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of BUD may justify a higher PE ratio.
  • BUD's earnings are expected to grow with 13.09% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.11
PEG (5Y)1.26
EPS Next 2Y14.18%
EPS Next 3Y13.09%

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4

5. BUD Dividend Analysis

5.1 Amount

  • BUD has a Yearly Dividend Yield of 1.95%.
  • Compared to an average industry Dividend Yield of 1.74, BUD has a dividend in line with its industry peers.
  • BUD's Dividend Yield is comparable with the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 1.95%

5.2 History

  • On average, the dividend of BUD grows each year by 20.37%, which is quite nice.
  • BUD has been paying a dividend for at least 10 years, so it has a reliable track record.
  • The dividend of BUD decreased recently.
Dividend Growth(5Y)20.37%
Div Incr Years1
Div Non Decr Years1
BUD Yearly Dividends per shareBUD Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

  • 66.45% of the earnings are spent on dividend by BUD. This is not a sustainable payout ratio.
  • BUD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP66.45%
EPS Next 2Y14.18%
EPS Next 3Y13.09%
BUD Yearly Income VS Free CF VS DividendBUD Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B
BUD Dividend Payout.BUD Dividend Payout, showing the Payout Ratio.BUD Dividend Payout.PayoutRetained Earnings

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BUD Fundamentals: All Metrics, Ratios and Statistics

ANHEUSER-BUSCH INBEV-SPN ADR

NYSE:BUD (3/13/2026, 8:12:52 PM)

After market: 72.39 0 (0%)

72.39

+0.45 (+0.63%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners20.7%
Inst Owner Change-3.47%
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap140.68B
Revenue(TTM)59.32B
Net Income(TTM)6.84B
Analysts81.82
Price Target88.23 (21.88%)
Short Float %0.65%
Short Ratio3.03
Dividend
Industry RankSector Rank
Dividend Yield 1.95%
Yearly Dividend2.31
Dividend Growth(5Y)20.37%
DP66.45%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.18%
Min EPS beat(2)2.28%
Max EPS beat(2)6.07%
EPS beat(4)4
Avg EPS beat(4)4.38%
Min EPS beat(4)1.01%
Max EPS beat(4)8.16%
EPS beat(8)8
Avg EPS beat(8)7.33%
EPS beat(12)12
Avg EPS beat(12)5.97%
EPS beat(16)14
Avg EPS beat(16)6.5%
Revenue beat(2)0
Avg Revenue beat(2)-1.55%
Min Revenue beat(2)-1.88%
Max Revenue beat(2)-1.22%
Revenue beat(4)0
Avg Revenue beat(4)-2.12%
Min Revenue beat(4)-3.28%
Max Revenue beat(4)-1.22%
Revenue beat(8)2
Avg Revenue beat(8)-1.07%
Revenue beat(12)2
Avg Revenue beat(12)-1.73%
Revenue beat(16)4
Avg Revenue beat(16)-1.64%
PT rev (1m)7.87%
PT rev (3m)10.86%
EPS NQ rev (1m)13.34%
EPS NQ rev (3m)14.59%
EPS NY rev (1m)8.1%
EPS NY rev (3m)8.41%
Revenue NQ rev (1m)1.39%
Revenue NQ rev (3m)1.57%
Revenue NY rev (1m)1.16%
Revenue NY rev (3m)1.11%
Valuation
Industry RankSector Rank
PE 17.83
Fwd PE 15.38
P/S 2.37
P/FCF 12.53
P/OCF 9.45
P/B 1.61
P/tB N/A
EV/EBITDA 9.04
EPS(TTM)4.06
EY5.61%
EPS(NY)4.71
Fwd EY6.5%
FCF(TTM)5.78
FCFY7.98%
OCF(TTM)7.66
OCFY10.58%
SpS30.52
BVpS44.92
TBVpS-37.36
PEG (NY)1.11
PEG (5Y)1.26
Graham Number64.05
Profitability
Industry RankSector Rank
ROA 3.12%
ROE 7.83%
ROCE 8.6%
ROIC 6.24%
ROICexc 6.67%
ROICexgc 91.9%
OM 26.73%
PM (TTM) 11.53%
GM 55.93%
FCFM 18.93%
ROA(3y)2.8%
ROA(5y)2.67%
ROE(3y)7.28%
ROE(5y)7.36%
ROIC(3y)6.13%
ROIC(5y)5.97%
ROICexc(3y)6.54%
ROICexc(5y)6.37%
ROICexgc(3y)88.01%
ROICexgc(5y)80.35%
ROCE(3y)8.45%
ROCE(5y)8.23%
ROICexgc growth 3Y9.81%
ROICexgc growth 5Y12.22%
ROICexc growth 3Y2.06%
ROICexc growth 5Y6.07%
OM growth 3Y1.96%
OM growth 5Y0.34%
PM growth 3Y3.72%
PM growth 5Y30.92%
GM growth 3Y0.88%
GM growth 5Y-0.76%
F-Score8
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.5
Debt/EBITDA 3.35
Cap/Depr 64.69%
Cap/Sales 6.16%
Interest Coverage 4.74
Cash Conversion 69.2%
Profit Quality 164.21%
Current Ratio 0.72
Quick Ratio 0.57
Altman-Z 1.77
F-Score8
WACC6.41%
ROIC/WACC0.97
Cap/Depr(3y)73.36%
Cap/Depr(5y)86.67%
Cap/Sales(3y)6.81%
Cap/Sales(5y)7.95%
Profit Quality(3y)172.3%
Profit Quality(5y)169.87%
High Growth Momentum
Growth
EPS 1Y (TTM)6.27%
EPS 3Y5.8%
EPS 5Y14.2%
EPS Q2Q%7.95%
EPS Next Y16.01%
EPS Next 2Y14.18%
EPS Next 3Y13.09%
EPS Next 5Y13.29%
Revenue 1Y (TTM)-0.75%
Revenue growth 3Y0.88%
Revenue growth 5Y4.82%
Sales Q2Q%4.81%
Revenue Next Year7.07%
Revenue Next 2Y5.42%
Revenue Next 3Y4.84%
Revenue Next 5Y4.9%
EBIT growth 1Y2.54%
EBIT growth 3Y2.85%
EBIT growth 5Y5.18%
EBIT Next Year45.03%
EBIT Next 3Y16.86%
EBIT Next 5Y12.12%
FCF growth 1Y0.31%
FCF growth 3Y11.32%
FCF growth 5Y9.57%
OCF growth 1Y-1.14%
OCF growth 3Y3.82%
OCF growth 5Y6.44%

ANHEUSER-BUSCH INBEV-SPN ADR / BUD Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for ANHEUSER-BUSCH INBEV-SPN ADR?

ChartMill assigns a fundamental rating of 5 / 10 to BUD.


Can you provide the valuation status for ANHEUSER-BUSCH INBEV-SPN ADR?

ChartMill assigns a valuation rating of 6 / 10 to ANHEUSER-BUSCH INBEV-SPN ADR (BUD). This can be considered as Fairly Valued.


What is the profitability of BUD stock?

ANHEUSER-BUSCH INBEV-SPN ADR (BUD) has a profitability rating of 6 / 10.


Can you provide the expected EPS growth for BUD stock?

The Earnings per Share (EPS) of ANHEUSER-BUSCH INBEV-SPN ADR (BUD) is expected to grow by 16.01% in the next year.


Can you provide the dividend sustainability for BUD stock?

The dividend rating of ANHEUSER-BUSCH INBEV-SPN ADR (BUD) is 4 / 10 and the dividend payout ratio is 66.45%.